The stock of Darz Corporation (E & P of $1.5 million) is owned as follows: 90% by Karl Corporation (basis of $900,000), and 10% by Dolce (basis of $70,000). Both shareholders acquired their shares in Darz more than eight years ago. In the current year, Darz Corporation liquidates and distributes land (fair market value of $1.1 million, basis of $1.3 million) and equipment (fair market value of $700,000, basis of $410,000) to Karl Corporation, and securities (fair market value of $200,000, basis of $260,000) to Dolce. What are the tax consequences of these distributions to Karl, to Darz, and to Dolce?